#german hyperinflation

[newyorkthegoldenage]

December 31, 1923:The proprietor of the new Maison Arthur Grill distributed $100,000,000 (yes, one hundred million dollars) in German marks to be used for confetti on New Year's Eve. Massively in debt from war reparations, the German government began printing money without any economic resources to back it. This resulted in hyperinflation, and in 1923 it was at its zenith. The exchange rate then was between 3.4 to 5.72 billion marks to the dollar. In January of 1923 it had been between 7,000 to 48,000 marks to the dollar.

Photo: Underwood Archives/Getty Images via Fine Art America

[rodgermalcolmmitchell]

John Stossel, gimme a break.

Today’s irony: John Stossel authored a book titled, “Myths, Lies, and Downright Stupidity.” He also is a Libertarian and worked for Fox News, both of which explain much, the former explaining ignorance about Monetary Sovereignty and the latter explaining reluctance to speak the facts. Here is an article he wrote: Our Government is Now So Deep in Debt that Taxpayers Must Spend $1 Trillion a Year…

[unbfacts]

[ibbible]

"German hyperinflation was mainly due to the irresponsible fiscal and monetary policies adopted by the Germans themselves."

- Niall Ferguson, The Pity of War